Last week, the market rebounded, with the Shanghai composite index week or 1.71%, or 2.07% steel plate. After steady growth signals, in a pessimistic mood rapidly from early fix, drive purchase in the lower and intermediate demand stabilised. Due to the fast cash is not expected in a short time, so industry chain after a period of time will wait for the fundamentals again after confirmation in and starts punching power is limited on steel profits will remain low. As of now in development and Reform Commission approved the project, clean energy, environmental protection, occupy the majority of infrastructure limited number of classes we will pay close attention to the number of new investment projects in the future scale changes and impact on the industry.
Domestic steel prices: steel prices rallied last week. Due to early market decline in a row, market pessimism spread, traders on the acceleration to library status, resources are available at low rates. As policy release-stable growth signals, market pessimistic mindset is fixed, purchased from the low in the lower back to normal, slightly nervous stock market resources, driving prices to recover. This is based on the expected rebound in the rebound, steel prices rose after inventory adjustments need to wait for the fundamentals of cash price short flip-up power are limited, recent inventories and policies supporting steel prices expected narrow movements more likely;
International steel prices: weaker international steel prices last week to maintain. United States sheet metal prices continued to decline, market expectations as of July light approaches, demand is still shrinking space, under pressure from local steel plant has stopped production of supply and demand plan; also maintain the market slump in Europe, light manufacturing demand in the construction industry, coupled with the European debt crisis, in the short term markets have changed;
Raw material: domestic mine last week prices stabilised, 66% area, Hebei iron concentrate powder spot price 1080 Yuan/ton. Tianjin Port 63.5% grade India iron ore price for 1015 per ton. Imported iron ore overseas mine mainstream offer of us $ 137.5/ton.
Under the influence of policies to benefit, the steel city rally, ore get boosted market confidence, traders end-market increase, while part of steel mill market purchase required for replenishment, promoting mineral prices bottomed. Warmer, driven by short-term market confidence, still a small rebound, but in the case of steel mills operating rate improvement is unlikely, rebound is limited.
Steel prices rallied last week. Due to early market decline in a row, market pessimism spread, traders in a State of accelerated library, resources are available at low rates. As policy release-stable growth signals, market pessimistic mindset is fixed, returned to normal in the downstream procurement from low, low slightly nervous stock market resources, driving prices to recover. This rally is based on expected recovery, steel prices rose after inventory adjustments need to wait for the fundamentals of cash price short flip-up power are limited, recent low inventories and policies supporting steel prices expected narrow movements more likely;
Screw-thread steel main contracts last week closing RB1210 to 4,095 Yuan/ton, up 1.44%. 20mm screw-week average price of 3,912 in Shanghai Yuan/ton; weekly average prices of hot-rolled plate 4,320 Yuan/ton; plate-week average price 4,132 dollars/ton; weekly average prices of cold-rolled plate 5,032 dollars/ton.
From a national perspective, stock movements, total inventory of all varieties are falling, but decline slowing. Pick-up in demand for Terminal procurement and broker market is expected to rebound, traders to power in decline, resulting in inventory drop out. Currently stocks the market is low, short steel prices play a supporting role.
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